Category: Buy Now Pay Later

After a challenging few years, Klarna, the heavyweight in the buy-now-pay-later (BNPL) sector, has finally shared some festive financial cheer. The Swedish-born company, renowned for letting shoppers defer payments without initial costs, has recorded a profit of £9.6 million in the third quarter of 2023. This marks a significant turnaround from a hefty £156 million…

“Buy Now, Pay Later” (BNPL) – sounds tempting, right? It’s like a quick shopping spree where you can push off the payments for later. This payment option, which allows shoppers to delay their payments for a month or break down the cost into tiny, interest-free chunks, has witnessed a sharp rise in popularity. With the…

The UK’s financial watchdog, the Financial Conduct Authority (FCA), has clamped down on two major ‘Buy Now, Pay Later’ (BNPL) players, amidst rising concerns over unclear contract terms. Here’s what you need to know: BNPL, a service which allows you to purchase items now and pay in instalments over time, has seen explosive growth in…

Ever heard of “Buy Now, Pay Later” (BNPL) and wondered what it’s all about? With millions of Brits using the service, YourMoney wrote a guide to what it is, its major players, and how to manage its risks. What is BNPL? “Buy Now, Pay Later” allows you to snag those coveted items immediately and pay…

In today’s fast-paced shopping world, “buy now, pay later” schemes are a tempting way to acquire what you want immediately and worry about the cost later. However, they can lead to a spiral of debt if not used responsibly, as Natalie Greenhough, a 36-year-old from West Yorkshire, learned the hard way. The Lure of “Free…

Zilch Up, a new product from the ad-subsidised payments network, Zilch, has landed on UK shores with the goal of providing financial freedom to those often overlooked by mainstream credit. The aim of this venture is to give millions the chance to build their financial future without the burden of interest. Expanding The Scope of…

Welcome to the world of digital shopping, where you can get what you want now and worry about the bill later. Sounds enticing, right? But is it all it’s cracked up to be? BusinessLeader wrote a round-up of the good and the bad things about it. The Allure of BNPL “Buy Now Pay Later” or…

Klarna, the renowned buy now, pay later giant, has announced its readiness for a potential stock market listing after posting its first monthly profit in three years. Sebastian Siemiatkowski, the head of the Swedish company, stated that Klarna now fulfills the necessary criteria, including a sustainable business model, a clear growth strategy, and a strong…

According to new analysis by economists at the Bank of England, more than 3 million UK households owe £2.7 billion on “buy now, pay later” (BNPL) borrowing. The findings reveal that those aged between 25 and 34 are the most likely to use BNPL, highlighting the extent of this unregulated practice. The analysis suggests that…

Klarna is a Swedish service that lets you buy something now and pay for it later, in instalments. Imagine you’re out shopping and see a pair of shoes you love but can’t afford right away. With Klarna, you can get those shoes and then pay for them bit by bit over time. In simpler terms,…